Cryptocurrency Mining Report Provides Financial Damage Figure

The environmental effects of cryptocurrency mining on our planet are allegedly more costly than we might have thought, according to a new report.

Cryptocurrency Mining Report Provides a Dollar Figure

The document, which is entitled “Crypto Damages: Monetary Value Estimates of the Air Pollution and Human Health Impacts of Cryptocurrency Mining” has been published in the scientific journal “Energy Research and Social Science.” It was authored by several researchers at the University of New Mexico including Andrew Goodkind and Benjamin Jones, assistant economics professors at the university, and Robert Berrens, a full-time economics professor.

The data they’ve gathered – which includes Internet-based energy use for mining purposes – allowed the researchers to put a dollar amount on the environmental costs behind crypto mining.

Several analyses have been conducted in the past regarding how damaging cryptocurrency extraction could be for the environment. Some sources have…